Franchise operation Mortgage Advice Bureau is setting up a network targeting smaller L&G intermediary business partners looking to become part of a bigger business under FSA regulation.
MAB is currently L&G's top producing mortgage-based intermediary and is set to become one of the biggest members of its new principal network offering, the L&G Partnership.
Smaller intermediaries who join the MAB network will be able to access services like compliance from L&G and business development from MAB.
L&G director of housing marketing Stephen Smith tells Mortgage Strategy Online: “For a number of our smaller business partners it may prove a better route to join with a bigger firm like MAB than become part of the L&G network directly.”
Members of the MAB network, which will be run as a separate but complementary entity to the national MAB franchise, will also receive free sourcing software.
The L&G Partnership is looking to attract around 3,000 members in total, representing around 16% of the mortgage intermediary market.